Do I need a lawyer for a mortgage renewal?
Not for a straight renewal with your existing lender. For a switch to a new lender, yes — but most lenders cover the legal cost through a switch program (title insurance replaces a full title search). Refinances and collateral-charge switches always require a lawyer.
A standard-charge switch typically uses title insurance and takes 30–90 minutes of a lawyer's time, at $500–$800 — usually covered by the new lender's switch program. A collateral-charge switch (TD, National Bank, Scotia Step) requires full legal discharge and re-registration, running $700–$1,000, and is often not covered.
Within Quebec, all mortgage transactions require a notary (equivalent role). Notary fees typically run $800–$1,400 and are almost never covered by the lender.
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Jay Klair, Mortgage Agent Level 2 (M09000869) — Real Mortgage Associates, FSRA #10464, part of the DLGC Group of Companies · 5675 Whittle Rd, Suite 100, Mississauga, ON L4Z 3P8